What is the intention of the government with income taxes?
Guess government requires money to run the country. The role the govt has to play in running the country , versus the services/resources it has to fetch income, would determine tax rates . Countries where there is huge economic disparity/stark division between haves and have nots (India for e.g) a welfare govt has to play the role of robin-hood and take the money from well to do to support the others. This may be in terms of subsidy and welfare schemes . Along subsidy and welfare scheme in big-govt comes corruption and the taxation is never sufficient. Unless the subsidy system is run well oiled efficiently, there will be hi taxation in these countries (high taxation in return to what with citizens still getting as basic amenities). A simple service tax would impact all the population immaterial of there well being and hence that component is not that high. A slab based income tax is considered more just and fair and hence it is more on. NHowever if a nation is bestowed of in demand resource like OIL, the govt can rake in money (not true in circumstances of today, but oil prices like oil are always volatile). from the sale of the resource. So it can cut down on income taxes. Bahamas on the other hand is popular tourist destination, and hence the govt source of income is service-charges for tourist activities, high import duties and there stamp duties related to property transaction.The role of government and the resources at its disposal guess determines the taxation rates.
Is it true that Donald Trump's administration accomplished more than any other administration in history?
This is a typical Trump trope (alliteration mine).If what is meant by it is that he has done more to harm us at home and in the world, then overwhelmingly yes.He has done more to make us look foolish to our neighbors to both the north and south, Canada and Mexico, who view this renegotiated USMCA as nothing more than NAFTA 2.0. There is hardly a difference between them. And yet Trump has made so much of it.And what Trump has done and is now doing to immigrants fleeing to our border in order to escape violence in their homelands, sets us back in the eyes of the world. Trump doesn’t understand that an immigrant’s fear of whatever obstacles he puts in their way near our border, won’t stop them from trying to escape the near certainty of death or rape in their own countries. Trump is letting only 60 persons into our country per day. This is illegal according to international laws and to our very own laws. His lunatic supporters in the Senate, of these and his many other crimes, will face the brutal judgment of history.In addition, our grandchildren will face the challenges of a world with much less potable water, arable land, available food, and dirtier air. Global climate change is actually real. And Trump and his minions deny it. Why is that? Are they just stupid? Or are they paid to look the other way? And is the answer just a distinction without a real difference? His Cabinet is chock full of incompetence, cronyism, and corruption. (Again, alliteration mine.) Evildoers all.On the world stage, I argue that we are ever closer to war with NK, with Iran, and with who knows whom else. China and Russia are hacking us near to political death. We are complicit in Syria and Yemen. Trump’s chump-in-law Jared is screwing up the Middle East because he is an intellectual lightweight. This is a generational genetic flaw that transfers down to children and up and across to parents-in-law. The White House is surrounded by stupid.We are the laughingstock of almost every other nation. We reject the TPP, the JCPOA, the Paris Climate Accords, the value of NATO and the EU. We defy our here-to-fore historical partners who have helped us keep the world safe for liberal democracies for more than 7 decades.And Trump wants to shunt all this aside in favor of what his gut tells him.I surmise that when one’s mind has left him, the gut is the only thing remaining.
US mandatory and discretionary spending question?
This is the problem with republicans..they run up the debt on huge spending on the military, then want to balance the budget but cutting discretionary spending-- but there is NOTHING there..Romney wanted to cut PBS and planned parenthood..to balance the budget..but you could cut their budgets by 100% and it won't equal ONE week of Afghanistan spending.
What does the senate and house of representatives do?
taking notes and need to study this stuff for test monday and help would be dandy please dont give me answers of how they raise taxes and yuda yuda... postive answers please thanks
Why do the Democrats have no intention to limit the trade deficit of the U.S. (e.g. using tariffs)?
The trade deficit is just another bogeyman used by unscrupulous politicians and pundits to scare the public. It sounds so ominous - “trade DEFICIT! Panic! Run around, scream, and wave your arms!” It makes it sound as if the US is about to get sucked into a black hole in the middle of Beijing.The trade deficit is caused by a great many things, but chief among them is the American desire for cheap stuff. Walmart and other discounters constantly press suppliers to lower costs, and many have turned to overseas for their manufacturing and raw materials. That means that imports outrun exports.A tariff would do several unpleasant things. For starters, it would increase prices for goods sold in discount retailers, suppressing sales (and depressing demand), which could trigger a recession. Tariffs are also used internationally as retaliation - put up a tariff wall against me, and I’ll do the same to you. Suddenly American products aren’t selling particularly well overseas, and the makers are upset about it.The situation is made even more complicated by international ownerships and partnerships that reach around the globe. Some of the so-called “trade imbalance” is actually counting massive companies selling from one division to another division. Trade deficits can also be affected by the strength of currencies; as currencies change in value over time, the goods that you can buy with them change as well.Topping the list of imported items by dollar value is electronic equipment (smartphones, music players, computers), machinery (engines, pumps, robots, etc.), and vehicles (your standard imported car), and then oil (of course). Pharmaceuticals come in fifth and medical equipment follows at sixth.Can you see giving up any of these when their prices go up? Erect a tariff for, say, medical equipment, and then health care costs inch up a bit. Boost oil tariffs and many industries are affected, from tourism to aviation to transportation, to car sales and plastics, even laundry detergent.